Gold Coast Property Investment Overview
Planning experts say the Gold Coast will soon run out of residential land. So, there are likely to be many more towering high-rises. If you think the Gold Coast has too many high-rise buildings, the twenty year projections of urban planning experts suggests that the sky scrapers have only just begun. There would not just be one 80 storey Q1 building, the world's tallest residential tower, but many more even taller structures casting their afternoon shadows across surfers paradise beach.
New regional centres of Robina and Coomera will not ultimately be just owned to sprawling shopping malls but also 13 storey office blocks. The guidelines of the south east Queensland regional plan, the Gold Coast city council strategic plan and broad hectare study lead many experts to predict that the Gold Coast will run out of residential land in a little more than a decade.
City councillors, environmentalists and long term residents all seem resigned to the fact that with no more land available, a concrete coast dominated by high rises is inevitable.
The city's population of 500,000 is expected to blow out to more than 830,000 by 2026, so higher-density living and higher buildings are the only way to accomodate the new arrivals.
The Gold Coast has been successfully attracting 10,000 to 20,000 people a year for forty years because it offers a diversity of residential product and lifestyle.
Planners had over estimated the number of available residential lots because some land was on the slopes and could not be developed. Coast developers are already searching for sites in neighbouring Beaudesert shire.
The Gold Coast is currently undergoing a large amount of infrastructure upgrade works worth in excess of $3.5 Billion. Some of the major works being: a new Gold Coast hospital ($500 million), a new public transport corridor ($490 million), rail link extension ($780 million) and the Tugun by-pass ($360 million).
There is also large scale master plan development currently occurring in the Gold Coast particularly within Robina / Varsity Lakes area, which by 2010 is projected to be home to an excess of 7,800 people. This area also incorporates an increasing amount of commercial space providing an employment node for those people living within the Robina / Varsity Lakes area.
Another area with particularly strong growth on the Gold Coast is Coomera / Hope Island, where a large amount of development is currently being undertaken. There is over $8.5 billion worth of development currently underway or currently proposed for this area. In 2001, the residential population for this area was 15,150 people, it is projected by 2021, the total residential population will be 108,938 persons or an average annual increase of 4,698 persons in this area.
An assessment of the south east Queensland region clearly highlights that the fundamentals for a well-performed property investment market still remain and the potential for further growth over the mid to long term period also exists. This growth will predominantly be driven by good employment opportunities, a booming economy, an appealing climate and proactive planning which will ultimately improve the long term liveability of the area. In summary, south east Queensland remains one of Australia's most desirable locations to live and invest.
For further information on property investment in Gold Coast suburbs and referral to a local real estate investment specialist Contact Us
